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Thor Industries, Inc.

THO Consumer Cyclical Recreational Vehicles

Thor Industries, Inc.’s revenue for fiscal 2026 (year ended July 2026) was $9.6 billion, roughly unchanged from fiscal 2025.

Revenue
−8.41%
EPS
−67.0%
Free cash flow
−26.7%
Total debt
−5.96%

Quarter to July 2026, against a year earlier

79.16 5.26 +7.12%
Market cap
$3.8B
P/E
23.3×
Fwd P/E
20.2×
Dividend yield
2.65%
F-score
7/9
Altman Z
3.45
Beneish M
−2.52
Dividend safety
69/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.23
Sold, $m 0.70
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — — — — —
Sell 1 1 — — — — — — — — — —
Insider Ownership 6.62%

Capital & Financial Ratios $m

Size
Market Cap 3,810.00
Revenue ttm 9,608.14
Net income ttm 174.65
Free cash flow ttm 236.71
Net debt Q 385.97
Valuation
P/E 23.28
Forward P/E 20.20
Price / sales 0.43
Forward P/S Powerpack
Price / FCF 17.51
Price / book 0.97
Financial health
Current ratio Q 1.77 (at or above 1.5: strong)
Debt / equity Q 0.20 (at or below 0.5: strong)
Interest coverage Q 5.79
Growth
Revenue growth Q −8.41% (below 0%: shrinking)
Operating income growth Q −50.71% (below 0%: shrinking)
EPS, this year +7.70%
EPS, next year A +33.04% (at or above 15%: strong)
Revenue, next year A +0.72%
EPS, past 5 yrs −22.19% (below 0%: weak)
EPS, next 5 yrs A +16.10% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.5×, against a ten-year median of 0.6×; over the ten years it ranged from 0.3× in 2022 to 1.0× in 2016.
P/E against its own 10 years 89.35%
10-year low 10-year high
P/S against its own 10 years 27.75%
10-year low 10-year high
P/B against its own 10 years 6.17%
10-year low 10-year high
EV/Sales against its own 10 years 21.55%
10-year low 10-year high
EV/FCF against its own 10 years 82.42%
10-year low 10-year high

Dividends raised 2 years running

Yield
2.65%
Annual rate
2.10
Payout ratio
62.0%
Growth, 2017–26
+4.61%/yr
  1. 1.40 ’17
  2. 1.52 ’18 +9%
  3. 1.58 ’19 +4%
  4. 1.62 ’20 +3%
  5. 1.68 ’21 +4%
  6. 1.76 ’22 +5%
  7. 1.86 ’23 +6%
  8. 1.46 ’24 −22%
  9. 2.02 ’25 +38%
  10. 2.10 ’26 +4%
paid Powerpack

Assets vs Liabilities $m

2023 2024 2025 2026
Cash 441 501 587 482
Receivables 643 701 707 701
Inventory 1,653 1,367 1,352 1,423
Other — — — —
2,794 2,650 2,778 2,740
2023 2024 2025 2026
Payables 736 628 738 741
ST’ Debt 11 33 3 3
Other 66 60 — —
1,716 1,567 1,585 1,550

Compound Annual Growth %

10y 5y 3y
Sales 7.69% (4.85%) (4.76%)
Cash Flow (0.60%) (9.41%) (31.09%)
Earnings (3.61%) (23.09%) (22.01%)
Book Value 12.91% 7.64% 2.26%

Earnings Trends EPS, adjusted, against the consensus

Q4 FY26 Estimate 0.93 Actual 0.78

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY26 −0.11 0.41 Beat by 0.52
Q2 FY26 0.03 0.04 Beat by 0.01
Q3 FY26 1.88 1.86 Miss by 0.02
Q4 FY26 0.93 0.78 Miss by 0.15
Q1 FY27 0.17 — Reports 2 December 2026

EPS $

Oct Jan Apr Jul Year
’26 — — — — —
’26 0.41 0.34 1.86 0.78 3.38
’25 (0.03) (0.01) 2.53 2.37 4.81
’24 0.99 0.13 2.13 1.68 4.94
’23 2.53 0.50 2.24 1.68 6.95
’22 4.34 4.79 6.32 5.15 20.59
’21 2.05 2.38 3.29 4.12 11.85
Fiscal quarters ending in the months shown.

Revenue $m

Oct Jan Apr Jul Year
’26 — — — — —
’26 2,389 2,126 2,782 2,312 9,608
’25 2,143 2,018 2,895 2,524 9,579
’24 2,501 2,207 2,801 2,534 10,043
’23 3,108 2,347 2,929 2,738 11,122
’22 3,958 3,875 4,658 3,822 16,313
’21 2,537 2,728 3,459 3,593 12,317
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Oct Jan Apr Jul Year
’26 — — — — —
’26 (45) (112) 234 244 321
’25 31 31 258 259 578
’24 60 (104) 252 338 546
’23 94 91 289 508 982
’22 42 256 339 353 990
’21 (81) (7) 264 351 526
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Oct Jan Apr Jul Year
’26 — — — — —
’26 (66) (123) 233 192 237
’25 9 22 225 262 518
’24 22 (132) 236 305 431
’23 41 47 240 459 787
’22 (1) 182 287 296 764
’21 (105) (31) 231 304 400
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to July

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 7,247 8,329 7,865 8,168 12,317 16,313 11,122 10,043 9,579 9,608 +3.2% 9,677 10,131 10,721 +3.7%
Gross margin, % 14.40 13.98 12.37 13.69 15.38 17.20 14.35 14.46 13.99 12.62 (1.8) pt
EBT 556 633 185 273 845 1,460 499 349 296 239 (9.0%)
EBT margin, % 7.68 7.60 2.35 3.34 6.86 8.95 4.49 3.47 3.09 2.48 (5.2) pt
Net income 374 430 132 221 661 1,138 374 265 257 175 (8.1%)
Per share, $
Per share, $ Revenue 137.87 158.12 145.90 148.04 222.60 296.40 207.97 188.62 180.45 183.48 +3.2%
Earnings 7.12 8.17 2.47 4.04 11.93 20.67 7.00 4.98 4.86 3.39 (7.9%)
Cash flow 7.98 8.86 9.42 9.80 9.51 17.99 18.36 10.25 10.89 6.13 (2.9%)
Capex (2.10) (2.55) (2.37) (1.43) (2.29) (4.11) (3.64) (2.15) (1.12) (1.61) (2.9%)
Free cash flow 5.88 6.31 7.06 8.37 7.22 13.88 14.72 8.09 9.76 4.52 (2.9%)
Book value 29.99 36.79 38.87 42.51 53.28 65.42 74.49 76.51 80.80 81.35 +11.7%
Shares, m 53 53 54 55 55 55 53 53 53 52 0.0%
Valuation, ×
Valuation, × P/E 14.80 11.62 24.63 28.15 9.92 4.08 16.50 21.23 18.60 22.05 17.2
P/S 0.76 0.60 0.41 0.77 0.53 0.28 0.56 0.56 0.50 0.41 0.5
P/B 3.51 2.58 1.53 2.68 2.22 1.29 1.55 1.39 1.13 0.92 1.9
EV/Sales 0.75 0.58 0.59 0.91 0.63 0.37 0.63 0.63 0.54 0.45 0.6
EV/FCF 17.67 14.45 12.26 16.05 19.27 7.98 8.94 14.59 9.97 18.22 13.9
Cash, $m
Cash, $m Operating cash flow 419 467 508 541 526 990 982 546 578 321 (2.9%)
Capex (110) (134) (127) (79) (127) (226) (195) (115) (60) (85) (2.9%)
Free cash flow 309 332 381 462 400 764 787 431 518 237 (2.9%)
Balance, $m
Balance, $m Working capital 399 542 589 587 1,009 1,307 1,077 1,083 1,193 1,190 +12.9%
Net debt (78) (269) 1,451 1,125 1,159 1,456 861 633 336 386 n/m
Shareholders’ equity 1,577 1,938 2,095 2,346 2,948 3,601 3,983 4,074 4,290 4,260 +11.7%
Returns, %
Returns, % ROA 15.33 16.12 3.16 3.90 10.62 16.18 5.10 3.72 3.67 2.53 (12.8) pt
ROIC 23.35 23.68 4.34 6.97 13.82 18.94 7.55 5.63 4.04 2.65 (20.7) pt
ROE 26.34 24.48 6.61 10.04 24.93 34.75 9.87 6.59 6.18 4.15 (22.2) pt
People
People Employees 17,800 17,500 21,750 22,250 31,000 32,000 24,900 22,300 20,900 19,500 +1.0%
Revenue/emp, $m 0.41 0.48 0.36 0.37 0.40 0.51 0.45 0.45 0.46 0.49 +2.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jul 2026 · latest quarter Jul 2026 · fundamentals updated 2 Oct 2026

Thor Industries, Inc. vs peers in Recreational Vehicles (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BC Brunswick Corporation $4.9B 24.4× 19.1× +6.89% (above 0%: growing) n/m +0.80% (above 0%: growing) 28.32% 7.15% Compare
DOO BRP Inc. $4.4B 55.4× — +16.59% (above 0%: growing) n/m +116.16% (above 0%: growing) 11.74% (2.24%) Compare
THO Thor Industries, Inc. $3.8B 23.3× 20.2× −8.41% (below 0%: shrinking) −66.96% (below 0%: shrinking) −26.73% (below 0%: shrinking) 12.36% 2.19%
PII Polaris Inc. $3.4B — (loss-making) 28.3× +10.91% (above 0%: growing) n/m −33.49% (below 0%: shrinking) 21.17% 3.59% Compare
HOG Harley-Davidson, Inc. $3.3B — (loss-making) 39.8× −19.25% (below 0%: shrinking) −87.35% (below 0%: shrinking) −53.23% (below 0%: shrinking) 25.97% 3.45% Compare
PATK Patrick Industries, Inc. $2.5B 19.8× 18.8× −0.04% (below 0%: shrinking) −38.64% (below 0%: shrinking) −49.38% (below 0%: shrinking) 23.57% 5.11% Compare
LCII LCI Industries $2.4B 11.8× 11.8× −12.52% (below 0%: shrinking) +20.52% (above 0%: growing) +88.04% (above 0%: growing) 31.09% 9.91% Compare
WGO Winnebago Industries, Inc. $871.7M 26.6× 20.4× −17.01% (below 0%: shrinking) −30.61% (below 0%: shrinking) +155.68% (above 0%: growing) 12.51% 2.73% Compare
MCFT MASTERCRAFT BOAT HOLDINGS, INC. $520.6M — (loss-making) 12.7× +63.41% (above 0%: growing) n/m −18.29% (below 0%: shrinking) 22.56% (4.86%) Compare
Median of peers $2.9B 24.4× 19.1× +3.43% −34.62% −8.74% 23.07% 3.52%

All 18 Recreational Vehicles stocks →

Pay and ownership Proxy statement filed 3 November 2025

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 14.61m 10.44m 88.05
2024 10.57m 10.40m 100.36
2023 10.57m 19.02m 107.17
2022 15.87m 14.95m 76.59
2021 19.09m 16.38m 105.45
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Thor Industries, Inc. (THO) Latest News

22 Oct

Impact 4 · · Zacks

19 Oct

Impact 3 · · StockStory

13 Oct

Impact 3 · · PR Newswire

27 Sep

Impact 4 ·
Impact 3 · · Simply Wall St.

25 Sep

Impact 3 · · StockStory
Impact 3 · · Insider Monkey

23 Sep

Impact 4 · · MarketBeat
Impact 3 ·

22 Sep

Impact 4 · · StockStory
Impact 4 · · PR Newswire
Impact 3 · earnings
Impact 3 · · Zacks
Impact 3 · · InvestorsHub
Impact 3 · · Zacks
Impact 3 · · Zacks
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21 Sep

Impact 4 · · PR Newswire

20 Sep

Impact 4 · · StockStory

15 Sep

Impact 3 ·

14 Sep

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11 Sep

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10 Sep

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30 Jun

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26 Jun

Impact 3 ·

9 Jun

Impact 4 · · Simply Wall St.

8 Jun

Impact 3 · · Zacks

4 Jun

Impact 3 · · StockStory

3 Jun

Impact 3 · · PR Newswire
stockrow.com/THO · Data as of Oct 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com